As we turn the page to a new year, the innovation evolution continues. ICBA is leaning into it, bringing its ThinkTECH Accelerator program and innovation efforts in-house to provide community bankers with targeted solutions tailored to meet their needs. Here at ICBA, we’ve been tossing around a quote from author Courtney C. Stevens’ novel, The Lies About Truth, that captures our ethos heading into 2023: “If nothing changes, nothing changes. If you keep doing what you’re doing, you’re going to keep getting what you’re getting. You want change, make some.” For ICBA and its community bankers, I believe 2023 will continue our industry’s forward momentum as our members position themselves to be the agents of change that find and champion new opportunities. Here are what I believe will be the top five trends and opportunities in the year ahead: 1. Targeted fintech initiatives focused on meeting community bankers' unique needs. Much like we saw some concentrated initiatives in 2020 with the Paycheck Protection Program (PPP) and the CARES Act, 2023 will bring a more granular focus to community banks’ lines of business. Agtech, age tech, payments and financial inclusion are top of mind for ICBA, as well as revenuegenerating opportunities for community banks. 2. Momentum around faster payments, real-time payments and FedNow. Faster and real-time payments activity and deliverables will become tangible and imperative in the year ahead. With the launch of the FedNow Service in 2023, new use cases for faster and real-time payments will continue to emerge, providing community banks with a groundswell of opportunities in this space. 3. Continuing digital transformation. Digital transformation shows no signs of slowing down. In response, ICBA is expanding its digital education programming and resources to ensure community bankers have what they BY CHARLES POTTS, EXECUTIVE VICE PRESIDENT AND INNOVATION OFFICER, ICBA INNOVATION STATION TOP 5 INNOVATION TRENDS FOR 2023 cbak.com 6 In Touch
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